JAKARTA – PT Energi Mega Persada Tbk (ENRG) recorded a 10.16% increase in net profit in 2024, reaching US$75.39 million or approximately Rp1.18 trillion (assuming an exchange rate of Rp16,162 per US dollar), a jump from the previous year’s US$68.43 million or around Rp1.05 trillion.

Edoardus Ardianto, the Deputy President Director, emphasized that the profit increase was driven by higher oil production and gas selling prices throughout 2024.

Meanwhile, Syailendra S. Bakrie, President Director of ENRG, added that the successful acquisition of two oil assets in the Siak and Kampar Blocks was a key factor behind the company’s production growth.

The company also expects the acquisition of the Sengkang block in South Sulawesi to further boost its gas production this year. ENRG holds a 90% stake in the Siak and Kampar blocks, which together have a total production of about 3,000 barrels of oil per day.

According to the latest report, sales reached US$467.42 million in 2024, up 11.08% from US$420.77 million in the same period last year. The majority of the sales came from oil and gas sales, totaling US$441.65 million.

ENRG's sales contributions came from PT Kilang Pertamina Internasional, with a transaction value of US$158.9 million for domestic sales. Meanwhile, TIS Petroleum (Asia) Pte Ltd contributed US$87.32 million in export sales. The remainder came from other supporting businesses amounting to US$23.61 million, followed by under (over) lifting and domestic market obligation (DMO) totaling US$2.1 million.

According to IDNFinancials.com data, ENRG had total assets of US$1.58 trillion in 2024, while its total equity amounted to US$657.14 million in 2024. (DH/LM)